22. September 2021
(To put that in perspective, global military spending amounted to about $1.7 trillion in 2017 alone, more than a third of which came from the United States.) The Copenhagen Pact also created the Green Climate Fund to mobilize transformative financial funds with targeted public dollars. The Paris Agreement expected the world to set a higher annual target by 2025 to build on the $100 billion target for 2020 and put in place mechanisms to achieve that scale. President Trump is withdrawing us from the Paris climate agreement. Ultimately, all parties have recognized the need to „prevent, minimize and treat loss and damage,“ but in particular any mention of indemnification or liability is excluded.  The Convention also adopts the Warsaw International Mechanism for Loss and Damage, an institution that will attempt to answer questions relating to the classification, management and sharing of responsibilities in the event of loss.  The Paris Agreement provides a sustainable framework that will guide global efforts for decades to come. The goal is to increase countries` climate goals over time. To promote this situation, the agreement provides for two review processes of a five-year cycle each. At the 2011 UN Climate Change Conference, the Durban Platform (and the Ad Hoc Working Group on the Durban Platform for Enhanced Action) was created with the aim of negotiating a legal instrument to tackle climate change from 2020. . .